The State Government, Yayasan Sabah, and investors signed three Memorandums of Understanding (MoUs) worth RM4.3 billion in accordance with the Sabah International Business and Economic Summit (SIBES) 2022.
Chief Minister Datuk Seri Hajiji Noor witnessing signing of MoU between SBH Kibing Solar New Materials (M) Sdn Bhd and State government. (photo credit: NST)
The ceremony, witnessed by Chief Minister Datuk Seri Hajiji Mohd Noor took place at the Sabah International Convention Centre (SICC) on Tuesday.
The first MOU was signed between the Sabah Ministry of Agriculture and Fisheries, which is under the State government and BorneoMed Sdn Bhd to produce an Integrated Herbal Plantation (SIHP) with an expenditure of RM350 million.
As witnesses, the Ministry of Agriculture and Fisheries' Permanent Secretary Datuk Dr Mariana Tinggal and the State Attorney General Datuk Nor Asiah Mohd Yusof, while Chief Executive Officer Ahmad Fauzi and the company's Executive Director Francis Sina were representatives of BorneoMEd Sdn Bhd.
Commercial technologies such as planting materials, high density and high yield planting technologies, Internet of Things (IoT) systems, smart agricultural digitisation, commercial processing equipment, warehousing systems, and other infrastructure and facilities are among the commercial technologies that BorneoMed has invested in.
The second MoU was signed by the State Government, through the Sabah Ministry of Industrial Development (MID), and SBH Kibing Solar New Materials (M) Sdn Bhd, investors from China to establish a silica sand processing factory and generate solar panels, with an initial investment of RM2 billion.
As witnesses, MID's Permanent Secretary Thomas Logijin and State Attorney General Datuk Nor Asiah Mohd Yusof signed on behalf of MID, while SBH Kibing Solar New Materials (M) Sdn Bhd was represented by its President Lin Hai and SBH Kibing CEO Yao Xin Xi signed on behalf of SBH Kibing Solar New Materials (M) Sdn Bhd.
According to the State, this project aims to produce 2,000 jobs, with 80 per cent of them designated for local employees, and it is set to start in 2024.
The solar panel plant's site will be selected later, and it will either be in the Kota Kinabalu Industrial Park (KKIP) or the Sipitang Oil and Gas Industrial Park (SOGIP), both of which require 130 acres.
The successful realisation of SBH Kibing Group (M) Sdn Bhd’s investment proposal is the result of MID’s collaboration with state and federal government departments and agencies involved in facilitating the investment process.
The third MoU was signed by Yayasan Sabah and Pavilion Kota Kinabalu Sdn Bhd for the construction of Pavilion Harbor City, which has a gross development value(GDV) worth RM2 billion.
Yayasan Sabah was represented by Datuk Gulamhaidar @ Yusof bin Khan Bahadar, its Director and Executive Chairman of Innoprise Corporation Sdn Bhd, and was witnessed by Yayasan Sabah's Corporate Secretary Hanafiah Diman, while Pavilion Kota Kinabalu Sdn. Bhd. was represented by Jameson bin Pias and was witnessed by General Manager, Timmy Gan Ve Li.
Pavilion Kota Kinabalu Sdn Bhd, an affiliate of the Pavilion Group is a well-known company and developer with experience in commercial and luxury residential development. The development covers an area of 30 acres of sea-land adjacent to the Northeast border of SICC and would be completed within 10 years.
Pavilion Harbor City includes residences, seaside restaurants, fishing markets, luxury hotels for accommodation, resorts and recreational activities.
The number of employment opportunities during the development is estimated at about 1,000 people, while about 2,000 people will get employment opportunities after the development is completed.